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If someone can please help me with this, I will be extremely appreciative. I am almost certain that everything pertaining to this question is attached
If someone can please help me with this, I will be extremely appreciative. I am almost certain that everything pertaining to this question is attached and may have added an additional copy of a few just to be certain. There are a total of 16 lines on this income statement, 5 on statement of owner's equity, 24 on balance sheet, 15 on journal; and 14 on the post trial balance.
End-of-Period Spreadsheet For the Year Ended December 31, 2011 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 20,500 20,500 Accounts Receivable 63,800 (a) 19,700 83,500 Prepaid Insurance 6,600 (b) 4,700 1,900 Supplies 4,700 (c) 3,540 1,160 Land 154,300 154,300 Building 787,000 787,000 Accumulated Depreciation-Building 402,000 (d) 14,200 416,200 Equipment 192,000 192,000 Accumulated Depreciation-Equipment 157,600 (e) 7,100 164,700 Accumulated Depreciation-Building 402,000 (d) 14,200 416,200 Equipment 192,000 192,000 Accumulated Depreciation Equipment 157,600 (e) 7,100 164,700 Accounts Payable 24,700 24,700 Salaries and Wages Payable (f) 7,700 7,700 Unearned Rent 3,300 (g) 2,000 1,300 Inez Villanueva, Capital 375,000 375,000 Inez Villanueva, Drawing 16,000 16,000 Fees Earned 612,000 (a) 19,700 631,700 Rent Revenue (g) 2,000 2,000 Salaries and Wages Expense 256,820 (f) 7,700 264,520 Advertising Expense 34,200 34,200 Utilities Expense 17,900 17,900 Advertising Expense 34,200 34,200 Utilities Expense 17,900 17,900 Depreciation Expense-Building (d) 14,200 14,200 Repairs Expense 13,930 13,930 Depreciation Expense-Equipment (e) 7,100 7,100 Insurance Expense (b) 4,700 4,700 Supplies Expense (C) 3,540 3,540 Miscellaneous Expense 6,850 6,850 1,574,600 1,574,600 58,940 58,940 1,623,300 1,623,300 Required: 1. Prepare an income statement for the year ended December 31. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Not loss should be negative. Expenses should be positive. You will not need to enter colons (:) on the income statement Unadjusted Trial Balance Adjustments Adjusted Trial Balanc Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 20,500 20,500 Accounts Receivable 63,800 (a) 19,700 83,500 Prepaid Insurance 6,600 (b) 4,700 1,900 Supplies 4,700 (c) 3,540 1,160 Land 154,300 154,300 Building 787,000 787,000 Accumulated Depreciation-Building 402,000 (d) 14,200 416,200 Equipment 192,000 192,000 Accumulated Depreciation-Equipment 157,600 (e) 7,100 164,700 Accounts Payable 24,700 24,700 Salaries and Wages Payable (1) 7,700 7,700 Salaries and Wages Payable () 7,700 7,700 Unearned Rent 3,300 (g) 2,000 1,300 Inez Villanueva, Capital 375,000 375,000 Inez Villanueva, Drawing 16,000 16,000 Fees Earned 612,000 (a) 19,700 631,700 Rent Revenue (g) 2,000 2,000 Salaries and Wages Expense 256,820 (1) 7,700 264,520 Advertising Expense 34,200 34,200 Utilities Expense 17,900 17,900 Depreciation Expense-Building (d) 14,200 14,200 Repairs Expense 13,930 13,930 Depreciation Expense-Equipment (e) 7,100 7,100 Insurance Expense (b) 4.700 4.700 Depreciation Expense-Equipment (e) 7,100 7,100 Insurance Expense (b) 4,700 4,700 Supplies Expense (c) 3,540 3,540 Miscellaneous Expense 6,850 6,850 1,574,600 1,574,600 58,940 58,940 1,623,300 1,623,300 Required: 1. Prepare an income statement for the year ended December 31. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation tha results in a negative amount. For example: Net loss should be negative. Expenses should be positive. You will not need to enter colons (:) on the income statement 2. Prepare a statement of owner's equity for the year ended December 31. Mo additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enfer subtracted or negative numbers use a minus sign. 3. Prepare a balance sheet as of December 31. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for entries. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary. Enter all values as positive amounts. 4. Based upon the end-of-period spreadsheet, journalize the closing entries. Explanations should be omitted. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals wil automatically indent a credit entry when a credit amount is entered. 5. Prepare a post-closing trial balance. Balance Sheet 3. Prepare a balance sheet as of December 31. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. You will not need to enter colons (1) or the word "Less" on the balance sheet; they will automatically insert where necessary. Enter all values as positive amounts. Outreach Signals Company Balance Sheet (Label) 1 Assets 2 (Label) 3 4 5 Post-Closing Trial Balance 2 Accounts Receivable 3 Prepaid Insurance + Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building & Equipment Accumulated Depreciation-Equipment 10 Accounts Payable 11 Salaries and Wages Payable 12 Unearned Rent 13 Inez Villanueva, Capital 14 Totals 1. Prepare an income statement for the year ended December 31. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount For example: Not loss should be negative. Expenses should be positive. You will not need to enter colons (:) on the income statement. Outreach Signals Company Income Statement (Label) 1 (Label) 2 3 4 5 (Label) O Select here to search 6 Settings 7 Outreach Signals Company maintains and repairs waming lights, such as those found on radio towers and lighthouses. Outreach Signals Company prepared the following end-of period spreadsheet at December 31, 2011, the end of the fiscal year: Outreach Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 2041 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 20,500 20,500 Accounts Receivable 63,800 (a) 19,700 83,500 Prepaid Insurance 6,600 (b) 4,700 1,900 Supplies 4,700 (c) 3,540 1,160 Land 154,300 154,300 Advertising Expense 34,200 34,200 Utilities Expense 17,900 17,900 Depreciation Expense-Building (d) 14,200 14,200 Repairs Expense 13,930 13,930 Depreciation Expense-Equipment (e) 7,100 7,100 Insurance Expense (b) 4,700 4,700 Supplies Expense (c) 3,540 3,540 Miscellaneous Expense 6,850 6,850 1,574,600 1,574,600 58,940 58,940 1,623,300 1,623,300 Required: 1. Prepare an income statement for the year ended December 31. Be sure to complete the statement heading. Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation tha results in a negative amount. For example: Net loss should be negative. Expenses should be positive. You will not need to enter colons (:) on the income statement. Journal 4. Based upon the end-of-period spreadsheet, journalize the closing entries. Refer to the chart of accounts for the exact wording of the account files. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered PAGE 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Closing Entries 2 3 4 5 Outreach Signals Company POST-CLOSING TRIAL BALANCE December 31, 20Y1 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance + Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building & Equipment Balance Sheet 11 12 13 14 15 16 Liabilities 17 (Label) 18 19 20 21 22 Owner's Equity 23 2 24 Amount Descriptions Decrease in owner's equity Increase in owner's equity Net income Net loss Inez Villanueva, capital, January 1, 2011 Inez Villanueva, capital, December 31, 20Y1 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Total revenues Withdrawals Chart of Accounts 16 Building 52 Advertising Expense 53 Utilities Expense 54 Depreciation Expense- 17 Accumulated Depreciation- Building 18 Equipment 19 Accumulated Depreciation- Equipment Building 55 Repairs Expense 56 Depreciation Expense- Equipment 57 Insurance Expense LIABILITIES 21 Accounts Payable 22 Salaries and Wages Payable 58 Supplies Expense 59 Miscellaneous Expense 23 Unearned Rent EQUITY 31 Inez Villanueva, Capital 32 Inez Villanueva, Drawing 2. Prepare a statement of owner's equity for the year ended December 31. Mo additional investments were made during the year. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign Outreach Signals Company Statement of Owner's Equity (Label) 1 2 3 4 5 Building 787,000 787,000 Accumulated Depreciation-Building 402,000 (d) 14,200 416,200 Equipment 192,000 192,000 Accumulated Depreciation-Equipment 157,600 (e) 7,100 164,700 Accounts Payable 24,700 24,700 Salaries and Wages Payable (1) 7,700 7,700 Unearned Rent 3,300 (g) 2,000 1,300 Inez Villanueva, Capital 375,000 375,000 Inez Villanueva, Drawing 16,000 16,000 Fees Earned 612,000 (a) 19,700 631,700 Rent Revenue (g) 2,000 2,000 Salaries and Wages Expense 256,820 (1) 7,700 264,520 Advertising Expense 34,200 34,200 Utilities Expense 17.900 17.900 Outreach Signals Company POST-CLOSING TRIAL BALANCE December 31, 20Y1 ACCOUNT TITLE DEBIT CREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance + Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building & Equipment 9 Accumulated Donrocistion Equipment Post-Closing Trial Balance ALLUUNT TIILE DEBIT LREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance + Supplies 5 Land 6 Building 7 Accumulated Depreciation Building & Equipment 9 Accumulated Depreciation Equipment 10 Accounts Payable 11 Salaries and Wages Payable 12 Unearned Rent 13 Inez Villanueva, Capital 14 Totals Outreach Signals Company General Ledger ASSETS REVENUE 11 Cash 41 Fees Earned 42 Rent Revenue 12 Accounts Receivable 13 Prepaid Insurance 14 Supplies EXPENSES 15 Land 51 Salaries and Wages Expense 52 Advertising Expense 16 Building 17 Accumulated Depreciation-Building 53 Utilities Expense 18 Equipment 54 Depreciation Expense-Building 19 Accumulated Depreciation-Equipment 55 Repairs Expense 56 Depreciation Expense-Equipment LIABILITIES 57 Insurance Expense Unadjusted Trial Balance Adjustments Adjusted Trial Balanc Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 20,500 20,500 Accounts Receivable 63,800 (a) 19,700 83,500 Prepaid Insurance 6,600 (b) 4,700 1,900 Supplies 4,700 (c) 3,540 1,160 Land 154,300 154,300 Building 787,000 787,000 Accumulated Depreciation-Building 402,000 (d) 14,200 416,200 Equipment 192,000 192,000 Accumulated Depreciation-Equipment 157,600 (e) 7,100 164,700 Accounts Payable 24,700 24,700 Salaries and Wages Payable (1) 7,700 7,700 Chart of Accounts 14 Supplies EXPENSES 15 Land 51 Salaries and Wages Expense 52 Advertising Expense 53 Utilities Expense 16 Building 17 Accumulated Depreciation-Building 18 Equipment 19 Accumulated Depreciation-Equipment 54 Depreciation Expense-Building 55 Repairs Expense 56 Depreciation Expense-Equipment LIABILITIES 57 Insurance Expense 21 Accounts Payable 58 Supplies Expense 22 Salaries and Wages Payable 59 Miscellaneous Expense 23 Unearned Rent EQUITY 31 Inez Villanueva, Capital 32 Inez Villanueva, Drawing Post-Closing Trial Balance ALLUUII TITLE UEBI DEBIL CREUI LREDIT 1 Cash 2 Accounts Receivable 3 Prepaid Insurance + Supplies 5 Land 6 Building 7 Accumulated Depreciation-Building & Equipment Accumulated Depreciation Equipment 10 Accounts Payable 11 Salaries and Wages Payable 12 Unearned Rent 13 Inez Villanueva, Capital 14 Totals Balance Sheet 11 12 13 14 15 16 Liabilities 17 (Label) 18 19 20 21 22 Owner's Equity 23 24 Labels and Amount Descriptions Current liabilities December 31, 2011 Expenses For the Year Ended December 31, 2011 Property, plant, and equipment Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Net income Net loss Inez Villanueva, capital, January 1, 2011 Inez Villanueva, capital, December 31, 2011 Total assets Total current assets Total expenses Labels and Amount Descriptions Revenues Amount Descriptions Decrease in owner's equity Increase in owner's equity Net income Net loss Inez Villanueva, capital January 1, 2011 Inez Vilanueva, capital, December 31, 2011 Total assets Total current assets Total expenses Total liabilities Total liabilities and owner's equity Total property, plant, and equipment Total revenues Withdrawals Journal JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Closing Entries 2 3 4 5 6 7 8 9 10 11 12Step by Step Solution
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